The 2024 ECPY Yacht Charter Symposium in Nice, French Riviera, brought together industry leaders to explore the future of yacht chartering. We were there, and in this blog post, we’ll share key takeaways.
Market share shifts and challenges
Laurent Monsaingeon of Flyn Yachting presented on yacht charter market share trends across various countries. His statistics revealed a concerning trend for France, which has lost 10% market share between 2015 and 2023.
Monsaingeon attributes this decline to stricter anchorage regulations and a lack of suitable buoys for larger yachts.
Picture: Laurent Monsaingeon – yacht charter market trend presentation.
Our analysis suggests additional contributing factors: rising living costs (local taxes, berth fees, cost of amenities such as trendy beach clubs), and the growing popularity of emerging yacht charter destinations in the Eastern Mediterranean area.
Conversely, Greece experienced a significant increase (+7.3%) in yacht charter activity during the same period. This growth is noteworthy despite challenges like the Greek charter license requirement, the Foreign Commercial Yacht Inspection Certificate (PEXEPA), and cruising taxes (TEPADAH and TEPADAH Plus).
However, the new charter license for commercial yachts also opens the door for a more diverse range of yachts to be available for charter in Greece.
Italy also saw a modest increase (+2.3%) in its charter market, with Sardinia and the south of the peninsula favored.
EU yacht charter regulation: still a patchwork of rules
Discussions at the event highlighted the absence of a unified EU-wide regulatory framework for yacht chartering, encompassing both fiscal and ecological considerations.
Picture: Loto and Saleccia beach in north Corsica
Notably, several prominent charter operators have discontinued promoting Corsica charters due to new anchorage restrictions. This has resulted in yachts either skipping Corsica entirely or making brief stops before heading to Sardinia for the main charter experience.
Transport contract: While the ECPY Transport Contract is gaining traction in France, its widespread adoption still faces challenges in Italy, Spain, and Greece.
Biofuels: a promising solution for a greener yachting
Gregory Romano of Romano Energy, a company specializing in alternative fuel solutions for yachts, presented a compelling case for biofuels based on xTL. xTL is a group of processing technologies that synthesize liquid fuels from various carbon sources like natural gas, coal, or biomass waste.
Picture: Biofuel delivery for yacht in Beaulieu sur Mer
Here are the key advantages of xTL biofuels for yachts:
- Clean burning: Emits no smoke.
- Reduced emissions: Zero sulfur emissions (SOx) and significantly lower NOx emissions (by 50-70%).
- Environmentally friendly: 100% biodegradable and non-toxic in the marine environment.
Romano emphasized that most yacht diesel engines, including popular brands like MTU, Caterpillar and Volvo, are compatible with their biofuel.
Additionally, the price per liter is comparable to traditional yacht fuel. Overall, biofuels like xTL represent a promising and readily available solution for reducing carbon emissions from yacht engines.
Other resources
- Best yachts for charter at the 2024 ECPY Open Days
- Romano Energy: Synthetic sustainable yachting fuel
- Flyn Yachting solution
Updated on April 24,2024
About the author: Remi van der Deure – French Riviera Charter broker.
Hello,
I am the senior Yacht Charter Broker at Charterminute, a well-known yacht charter boutique in Antibes.
I have served in the yacht charter industry for over 15 years and have gained a strong reputation among my clients, as evidenced by consistent 5-star ratings on Google Reviews and TripAdvisor.
My specialty is organizing corporate yacht charters for startups and large companies during popular events like the Cannes Lions Festival, MIPIM, TFWA, and MIPCOM.
I am also proud to be a member of esteemed yacht broker associations, e-MYBA and ECPY, demonstrating my unwavering commitment to providing exceptional yacht charter services and memorable experiences in the French Riviera.
You can contact me directly at +33 (0)662.465.991 or remi@charterminute.com.
